Ferrari N.V. $RACE Holdings Boosted by Stony Point Capital LLC

Key Points

• Stony Point Capital LLC increased its holdings in Ferrari N.V. by 116.6% in Q1, making it the firm's second largest holding with a value of approximately $42.5 million.
• Ferrari reported better-than-expected quarterly earnings, with $2.70 EPS exceeding analysts' estimates of $2.57, alongside a revenue of $2.12 billion compared to expectations of $2.05 billion.
• Analysts are divided on Ferrari, with six giving it a "Buy" rating and a consensus target price of $528.33, while some have downgraded their ratings due to market conditions.

Stony Point Capital LLC increased its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 116.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,252 shares of the company's stock after acquiring an additional 53,433 shares during the period. Ferrari makes up approximately 4.4% of Stony Point Capital LLC's investment portfolio, making the stock its 2nd biggest position. Stony Point Capital LLC's holdings in Ferrari were worth $42,468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vident Advisory LLC boosted its holdings in shares of Ferrari by 160.6% in the 1st quarter. Vident Advisory LLC now owns 6,884 shares of the company's stock worth $2,945,000 after purchasing an additional 4,242 shares during the period. Evergreen Capital Management LLC lifted its position in Ferrari by 15.6% in the first quarter. Evergreen Capital Management LLC now owns 1,902 shares of the company's stock worth $814,000 after buying an additional 256 shares during the last quarter. Gordian Capital Singapore Pte Ltd lifted its position in Ferrari by 42.9% in the first quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company's stock worth $43,000 after buying an additional 30 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Ferrari by 351.5% during the first quarter. Canada Pension Plan Investment Board now owns 186,832 shares of the company's stock worth $79,335,000 after buying an additional 145,452 shares during the period. Finally, WPG Advisers LLC bought a new position in Ferrari during the first quarter valued at $284,000.

Analyst Upgrades and Downgrades

RACE has been the subject of several analyst reports. Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. UBS Group increased their price objective on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Citigroup reaffirmed a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $528.33.

Ferrari Trading Down 0.2%

Shares of Ferrari stock traded down $1.04 on Monday, hitting $477.95. 186,867 shares of the company traded hands, compared to its average volume of 427,336. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The company has a market cap of $115.84 billion, a PE ratio of 49.32, a PEG ratio of 5.44 and a beta of 1.09. The stock's 50 day moving average price is $478.16 and its 200-day moving average price is $467.04. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $519.10.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.57 by $0.13. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.Ferrari's quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business posted $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. Equities research analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.